请教高人：CIBC Mortgage Cash Back Offer是不是很好？

caifan

刚刚打电话给CIBC问 cash back offer的详情，大致如下：

+ k* j/ v' ]8 B  K1。三年固定利率3.3%, cash back 2%;
7 v# f- n- }2 r; Z: N9 l2。五年固定利率3.99%, cash back 2%.
3。按照银行网站，五年固定利率5.39%, cash back 5%
- M3 ~+ r4 @6 o$ y; r4 U
& ?2 i5 H& p) ^9 s7 |$ M& r另，做mortgage transfer, 而不是refinance, 银行可以支付lawyer's fee。
0 S5 ]4 N$ x% r1 C  u3 U. Q感觉选择3最值。各位高人有何高见？

caifan

! |! y' Q3 s, `% s+ ^cibc的人好像是这么给我推算的：

/ f3 x5 B8 @/ k% a6 i' n2%现金返还三年期，相当于每年2/3=0.67%的折扣，3.3-0.67=实际利率2.63%
2%现金返还五年期，相当于每年2/5=0.4%的折扣，3.99-0.4=实际利率3.59%
" |# G- L6 U) Q/ g+ q. n
  l+ g1 U- D0 r- s5 W按他的算法，5%现金返还五年期，相当于每年5/5=1%的折扣，5.39-1=实际利率4.39%，不是特别好。

我觉得他的算法不精确，好像是假定你会把cash back花掉。如果把cash back马上用于还贷，整个的贷款额就降低了，所以cash back越高越好。

Pierce.CIBC

Let's say a customer wants to transfer $400,000 mortgage to CIBC. He has 2 options.
! m% f& d1 g! U# h: _) A1.   3-year closed mortage with 3.3% and 3% cash back.
! s6 y* Q7 N% L' ]2.   5-year closed mortgage with posted rate 5.39% and 5% cash back
4 Q; E: m$ O/ G0 p# c
Option 1. After 3% cash back, your mortgage amount will become $400,000*0.97=$388,000 with 3.3% interest
! x% @% W3 r# j+ |  aIf you want to payoff your mortgage in 25 years. Monthly PMT $1896.44. The remaining balance is $356,393 after 3 years.

& g6 T. e2 \% J: _* pOption 2. After  5% cash back, your mortgage amount will become
5 Z6 o* R0 Y3 D3 i" L/ R9 D$ o$400,000*0.95=$380,000 with 5.39% interest.
$ T9 p( Q# f8 u  M/ S7 vIf you want to payoff your mortagge in 25years. Monthly PMT 2295.21  The remaining balance will be $356,351.50 after 3 years

Basically, for the above options, after 3 years, the mortgage remaining balance is similiar.
If you choose the 2% cash back with 3.3%, every month you save about $398.77 monthly payment for 3 years.  Total roughly saving ($398.77*12*3=$14,355)

诺言

能确认一下把mortgage从别的银行转到CIBC，CIBC负担全部律师的费用吗？

caifan

3# Pierce.CIBC
谢谢回复！我后来用网上的贷款计算器算了一下，五年选择5%的返还和5.39% 的posted rate确实不划算，主要因为5.39实在太高了。

caifan

用网上的贷款计算器计算，五年固定利率3.99%, cash back 2%比起现在单纯的五年固定利率3.59%要划算一些。

Rapala

问一个问题，如果是投资房，cashback算收入要交税吗？

caifan

银行网站说：
% m- `' P8 }! S' ^3 i8 [$ n1 q4 ^: l6 ZThe Cash back amount is tax free as long as the funds are not used to earn income from a business or property.

Pierce.CIBC

4# 诺言

9 A3 i* r* c6 j( OThere is no fee/cost to transfer your mortgage

tyyjohn

任何时间都可以转吗？  还是要等5年满了才能转？

诺言

4# 诺言
5 p8 L/ x/ Y- a
There is no fee/cost to transfer your mortgage
, O: p  i6 b, w9 B5 j! C+ ?Pierce.CIBC 发表于 2010-3-4 14:26

但是Title上面的mortgagee不是需要改吗？这个过程不需要律师吗？

Pierce.CIBC

CIBC got free AD from Globe&Mail

https://secure.globeadvisor.com/ ... /cnw/20100305/C7106

caifan

据我的重新计算，五年固定3.99% 加上2 % 现金返还大致相当于3.50%，这是相当不错的了。

居然有一位mortgage broker能给这个rate，但是prepayment是5%，不是我想要的 10%。

诺言

“In addition, there are no transfer-in fees for clients to move their mortgage to CIBC.”
这句话并没有解答new mortgage是否需要律师involve去land title office注册的问题啊？

caifan

“In addition, there are no transfer-in fees for clients to move their mortgage to CIBC.”
0 g8 a; [! Q5 l这句话并没有解答new mortgage是否需要律师involve去land title office注册的问题啊？
3 _4 B2 A- r6 S9 B3 p: n/ w诺言 发表于 2010-3-11 11:41

% }* H9 @8 I2 v: C6 z$ G- Z这个我也问清楚了。我的mortgage broker读了fine print，说你想让银行代付律师和登记费，就得放弃现金返还，当然没有人会那样做。为此他可以另外给我一些现金返还，足够支付相关费用。他说这部分现金返还是他本人用自己积累的点数支付的，与cibc的offer无关。

诺言

这个我也问清楚了。我的mortgage broker读了fine print，说你想让银行代付律师和登记费，就得放弃现金返还，当然没有人会那样做。为此他可以另外给我一些现金返还，足够支付相关费用。他说这部分现金返还是他本人用 ...
+ ~9 I* o: t4 P" {" {caifan 发表于 2010-3-11 11:59

是实实在在的现金返还吗？我看一直没正面回答，感觉有点问题。

Pierce.CIBC

14# 诺言
/ N; S8 F( ?' I

当您把mortgage转过来，cibc会给您mortgage注册，不需要花钱。

Pierce.CIBC

16# 诺言

6 b5 r# R: O& s" ?. l
是free money,直接打到您的银行帐号。